Option Millionaires

[retiredMM]

Change the Mindset

So what have I been saying since December? We are no longer in a BTFD market, we are in a STFR market. All rallies MUST BE SOLD at this point in time. I originally stated that I was looking for $195-$197 by EOM but a day or two ago I tempered it a bit to $195-$197 by 2nd week of Feb. The way things are feeling, EOM just might be right (but I think it will probably be 1st week Feb at this point). I also stated that I am ultimately looking for $190-$192 with a possibility we see the $180's. This will happen in February some time IMO. I also stated that I do think we will ultimately see SPY be up 5%-7% this year but I don't think it ends the year there. I think after the sell-off we will have a sharp rip up and then a steady march up to the highs of the year. I anticipate this by the end of Sept if not sooner. Then we see another sell-off into the end of the year. Santa will NOT take us to new highs next year, he will be leading us lower.

I also think that after this summer, reality will set in and the rate hikes will be a comin'. Steady 1/4 pt moves each meeting. My target is steady increases until 1 1/2 pts at least. They will find that the economy in the US will start to get sluggish at that point (by end of 2nd qtr next year) which will lead to the EOY decline.

So now that you see that there are many out there that feel the way I do (or at least I think so) you should seriously consider changing the mindset. If you can't learn to trade a bad market you will left out in the cold. You will either get hammered on BTFD's or you will sitting on the sidelines doing nothing. The opportunities to make money with Puts (and well timed Calls for the quick sharp (dead cat) bounces) is far greater than the opportunities than trading up markets. You just CAN'T BE SCARED. You are not shorting where your risk is limitless. Puts and Calls both have the same Risk profile. I've been preaching this for years and I still see the same people saying the same things about losing money on dead cat bounces. BTFD does not work in this market unless you are willing to scalp for small gains.

Don't get caught holding the bag! You must learn to lose the fear of Puts and bad markets. There is just too much money to be made.